SISHUPAL SINGH Vs. RAJASTHAN FINANCIAL CORPORATION

JUDGEMENT

(1.) THIS Misc. Appeal under Section 32(9) of the State Financial Corporation Act, 1951 has been filed against the judgment and decree dated 22.12.1999 passed by the Addl. District Judge, Sikar in Civil Misc. Case No.28/1994,whereby the decree for Rs.2,72,105.00 has been passed against the appellants.

(2.) CONTENTION of the appellants is that they applied for a loan to run his own truck to Rajasthan Financial Corporation, Jaipur on 24.7.1982. On this application, loan of Rs.1,77,000.00 was sanctioned by the respondents on 11.11.1982. The appellant no.1 deposited various sums at different times but however the respondents seized the truck of appellant no.1 on 19.3.1989 on the plea that the installments were not deposited in time and terms of the agreement were flouted. Appellant no.2 and 3 are the guarantors of the loan amount. The truck was auctioned and Rs. 1,34,500.00 has been adjusted towards original loan amount. Thereafter the respondents filed a suit under section 31(aa) of the State Financial Act to recover the said amount and the court below has passed the judgment and decree along with interest.

(3.) HEARD learned counsel for the parties and perused the impugned judgment. The facts as regard sanction of the loan,seizure and auction of the truck are not in dispute. The contention of the present appellants is that a money decree could not be passed under the provisions of section 31 of the Act and reliance has been placed on AIR 2001 Rajasthan 4, M/s O.K. Gaur and Compnay and another vs Rajasthan Finance Corporation where it has been held in para no. 9.